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STATEMENT FOR THE PRESS. Released f o r p u b l i c a t i o n Sunday morning, October 26, i g i $ ; n o t e a r l i e r . St, 662 Federal Reserve Board, October 25, 1919* CONDITION OF FEDERAL RESERVE BANKS. Gains i n gold reserve through t r a n s f e r of gold from the European continent t o the Bank of England v a u l t s and a moderate r e d u c t i o n i n loan account are i n d i c a t e d i n the Federal Reserve Board's weekly bank statement issued as a t close of business on October 24, 1919, Deposit l i a b i l i t i e s of the banks d e c l i n e d about 3*S m i l l i o n s , and f o r the f i r s t time since Septan "ber 19 F e d e r a l Reserve note c i r c u l a t i o n shows but a nominal increase* The r e s u l t i s seen in t h e r i s e of the reserve r a t i o from 4g *3 to 48*7 per cent * War paper on hand shows a decline f o r the week of 32,8 m i l l i o n s while other discounts f e l l off 6,2 m i l l i o n s . Holdings of acceptances increased 25,9 m i l l i o n s , those of Treasury c e r t i f i c a t e s - 4 . 2 m i l l i o n s , while t o t a l earning a s s e t s show a decline of 3 *5 m i l l i o n s • War paper holdings of the Chicago hank are inclusive of millions 43 <l/ of paper discounted f o r other F • R* banks, while San Francisco §•. apcoptaucB holdings include 12*7 m i l l i o n s of b i l l s purchased from other F• R. banks, as against 13*7 m i l l i o n s the week before# All c l a s s e s of deposits show decreases f o r the week; government deposits being 49*7 m i l l i o n s l e s s , member banks 1 reserve deposits - 27*5 m i l l i o n s l e s s , and a l l other d e p o s i t s , i n c l u d i n g f o r e i g n government c r e d i t s - 2*6 m i l l i o n s l e s s than the week before* On the other hand, s u b s t a n t i a l decreases are shown f o r the t o t a l s of gold in t r a n s i t and i n custody, also f o r the " f l o a t " c a r r i e d ty the F*R$ banks, both of which items are t r e a t e d as deductions from gross deposits* Net deposits f i g u r e out 3»S m i l l i o n s l o s s , while F* R, note c i r c u l a t i o n i s out 0*9 m i l l i o n larger than the week before • Admission t o membership of State banks and Trust companies accounts f o r an i n crease of $323,000 i n c a p i t a l account, the F• R* banks a t Chicago and San Francisco r e p o r t i n g most of the i n c r e a s e . St, Be leased f o r p u b l i c a t i o n Sunday morning, October 26, 191.J ? not e a r l i e r . 1919. AT CLOSE OF BUSINESS OCTOBER 24, STATEMENT OF COMBINED RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS Or>.tn her 2F), 1918 October 17. 1919 October 24. 1919. RESOURCES $376,679,000 $251,954,000 $ 2US,375,000 Gold coin and c e r t i f i c a t e s 415,676,000 461,193,000 465,535,000 Gold settlement fund - F . R, Board 5.829.000 106.917.000 132.9S3.000 Gold with f o r e i g n agencies 798,184,000 520,064,000 846,893,000 Total gold h e l d by banks 1,184, 998,Ogo 1,201,302,000 1,197,933,000 Gold with Federal Reserve Agents 6l.950.00Q ,..107,077,000 101.779.000 A Gold redemption fund 2,045,132,000 $2,128,443,000 $2,146,605,000 Total gold r e s e r v e s 53,037,000. 70.742. 000 67.956.000 Legal tender notes, s i l v e r , e t c . 2,098,169,000 2,214,561,000 2,199,185,000 Total reserves 1,092,417,000 1,698,885,000 1,666,055,000 . . J. So cured by Government war obligations 451,747,000 B i l l , d3 i s c o u n t e d ^ , x 422,842,000 4i6,os4,ooo log. 621.000 l42.918.000 i68.s46.ooo B i l l s bought in open market 1 , 3 ^ 7 7 ^7,000 2,464,665.000 2,450,985,000 Total b i l l s on hand 28,251,000 27,097,000 27,095,000 U. S, Government bonds 57,00c 86,000 U. S, Victory notes * 322,060,000 269,414,000 273,585,000 U. S. C e r t i f i c a t e s of Indebtedness 24,000 All other earning a s s e t s 2,295,122,000 2,761,263,000 2,751,751,000 Total earning a s s e t s 13,336,000 13,358,000 Bank premises 19,242,000 46,355,000 Gold in t r a n s i t or i n custody in f o r e i g n countries 856 323)000 1,162,167,000 937,250,000 1.115.812.000 918,008,000 Uncollected items and other deductions from gross deposits 3 692,000 12,131., COO 12,571,000 5$ Redemption fund a g a i n s t F.R. bank notes 16' F-7:2 000 11.510.000 .. 9,119,000 All other resources 5,270,785,000 6,161", 812,000 5,938,630,000 TOTAL RESOURCES L I A B I L I T I E S 35,540,000 79, ipo.ooo 85,863,000 Capital p a i d - i n l , 13 4 ^ 000 81,087,000 81,087,000 Surplus 78, 218,000 83,984,000 133,639,000 Government deposits 1,683, 499,000 1, 841,101,000 1,813,563,000 Dub to members, - Reserve account : 702, 167.000 822,156,000 733,227,000 Deferred a v a i l a b i l i t y items 117. 001,000 98, 878,000 101.410,000 Other deposits, including foreign government c r e d i t s 2,580, 325,000 2,958,326,000 2,729,652,000 Total gross deposits 2,507, 912,000 2,752,569,000 2,753,457,000 F- R. notes i n a c t u a l c i r c u l a t i o n 859,000 249,675,000 251,590,000 F. R. bank notes i n c i r c u l a t i o n - net l i a b i l i t y 865.000 14.615.000 16.981.000 All other l i a b i l i t i e s 5,270,785,000 6,161,812,000 5,938,630,000 TOTAL LIABILITIES Ratio of t o t a l r e s e r v e s to n e t deposit and F. R. note * Includes one-year 4-9 48.3$ 48.77 l i a b i l i t i e s combined Treasury notes* Ea&io.cf - e l d r e s e r v e s to F.E.notes in c i r c u l a t i o n a f t e r 59*6; 57.6^ 57.1'% 3 5 L " a ; i a s *-<"* pRnine-t r s t .Jr-jcszt IzaDzlztzes 51: 668b Released f o r p u b l i c a t i o n Sunday morning, .'ctober 26, 1919; not e a r l i e r . WEEKLY STATEMENT OF RESOURCE ALTD LIABILITIES OF THE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS OCTOBER 24, 1919. RESOURCES (In thousands of d o l l a r s . ) Bo ;on ITev/ York Phi l a . Clevol, Riclm. Atlanta Chicago St-Louis Minn. ICans.Cy, Dallas San Fran. Total 155,967 1,101 15,492 2,257 7,850 24,239 2,932 8,320 173 7,200 15,127 248,375 Gold coin and c e r t i f i c a t e s 7,717 100,792 31,515 42,686 33,647 7,868 98,371 l 4 , n 4 10,782 24,806 5,589 28,460 4o5,535 Gold Settlement Fund - F.R.Board 66,845 48,805 10,639 10,905 6,516 4,787 15.825 6,250 3,591 6,383 3,458 6,117 132,92] Gold w i t h f o r e i g n agencies 9,707 ' — 31,422 16,247 4 9 , 7 0 4 8 4 6,893 Total gold held try banks 84,269 305,564 43,255 69,083 42,420 20,505 138,435 23,296 22,693 Gold with F. E. Agents 67,467 283,000 75,058 132,740 39,215 50,918 285,649 70,013 37,119 35,110 22,025 99,616 1,197,933 4,623 2,779 2,076 101,779 Gold redemption fund 19,351 24,780 12,656 401 8,632 6,107 13.555 5,053 1,166 Total gold reserves 111 Ml 6137354 1 3 0 ^ 5 9 £02,284 90,267 77,539 437,639 98,362 60,978 71,155 41,054 151,396 2 , 1 % , 605 260 1,822 285 67,956 Legal tender notes, s i l v e r , e t c . 5,504 50,585 153 906 223 1,190 1,437 5,53^ 57 Total r e s e r v e s 177,191 663,929 131,122 203,130 90,490 78,720 439,076 103,896 61,035 "71,415 42,876 151,681 2,214,561 B i l l s discounted: Secured by Government war o b l i g a t i o n s (a) 109,146 675,336 182,789 116,920 85,780 71,174 186,790 58,424 33,204 52,280 39,263 54,949 1,666,055 416,084 All other ll,64l 105,083 23,252 23,793 17,125 33,988 57,022 22,231 25,645 49,998 23,465 22,841 1,640 97.213 363,846 >71 6,213 19,622 B i l l s bought in open market (b) 97.925 601 39,779 .5,357 10.282 43,358 ^,3§5. 64,368 175,003 2,450,985 8b,8b8 78,4/1 102,749Total b i l l s on hand 1677172 878,344 206,642 150,492 108,262 115,444 287,170 116 8,868 3,966 2,632 27,095 1,153 1,257 1,385 1,094 1,234 375 4,476 U. S, Government bonds 539 86 27 4 U. S. Victory notes 50 5 8.200 10,765 273.585 9.094 12,344 17,099 73,473 29,188 24,733 11,660 14,464 40,523 U. S . c e r t i f i c a t e s of indebtedness 22,042 953,124 237,215 206,319 121,156 1307288 332,169 105,120 87,708 123,961 76,534 188,400 2,751,751 Total e a r n i n g a s s e t s 189,757 382 400 13,358 402 490 2,936 690 463 2,212 889 500 Bank premises 3,994 Gold in t r a n s i t or in Custody in 19,242 19,242 f o r e i g n countries Uncollected items and other 68,387 218,507 77,865 78,239 79,786 42,713 99,626 66,894 22,717 74,532 45,919 42,823 918,008 deductions from gross deposits 5 R e d e m p t i o n fund against F.R. 12,571 605 520 892 314 702 1,126 1,446 2,123 2,651 1,072 739 375 bank notes 856 432 164 9,139 469 515 242 1,323 84? 781 835 324 2,351 All other resources TOTAL RESOURCES (a) Includes b i l l s discounted f o r other F.R-banks, v i z . (b) Includes bankers' acceptances bought from other F.R. banks; Without t h e i r endorsement 438,943 1,863,798 448,929 490,550 293,105 253,192 877,253 277,771 171,938 271,717 166,669 384,765 5,938,630 43,052 43,052 12,662 12,662 S t . 66 S c LIABILITIES O^THE^DEEA^BESEBVE BANKS AT CLOSE OF BUSINESS OCTOBER 24, I919. (in thousands of d o l l a r s * ) Boston Capital p a i d - i n Surplus Government deposits Due to members - Reserve account r e f e r r e d a v a i l a b i l i t y items Other deposits including f o r e i g n government c r e d i t s Total gross deposits F.R.notes i n a c t u a l c i r c u l a t i o n F.R.banlc notes in c i r c u l a t i o n net l i a b i l i t y All other l i a b i l i t i e s TOTAL LIABILITIES 7,03^ 5 > 206 6.1-31 116,372 60,388 5,717 188,658 213,903 ISIIlliaiiiJi New York Phila^ Clevel. Riclm. 44.146 6,695 6.146 Atlanta Chicago St.Louis• Minn,. Ksns .Cy. Dallas_ San Fran. 3.655 991,852 159,148 204,623 137,329 7 . 5 ? , ? 0 9 2 1 6 , 3 9 6 nw 246,295 21 2.922 9,664 3,_33p 90,830 346,628 124, 9 46 135.U4 140,943 4o3,729 128,611 10 Total 2,193—IsS—2-i215—iiiUS 73,339 147,944 s 9 , 4 5 0 144,875 2,729,652 84,236 60,930 216,216,2,^53,457 96,275 d% M 21,352 n - % ^ ^ 2,790 438,943 1,863,798 448,929 490,550 293,105 253.192 877,253 =77,771 171,938 271,717 166,669 384,765 5,93=,b>0 MEMORANDA Contingent l i a b i l i t y as endorser on Discounted papsr re discounted with other i'.R. banks 12,815 - 5,000 9,337 15,900 43,05: FEDERAL RESERVE NOTES OUTSTANDING AND IN ACTUAL CIRCULATION. F,R, n o t e s outstanding F,R. notes h e l d by bank F.R,notes i n a c t u a l c i r c u l a t i o n B i l l s discounted B i l l s bought in open market U . S . c e r t i f i c a t e s of indebtedness 226,453 12,550 isi ^ "««"*•% % % « ' i ; s s j i 3 8 j a a n a i s 216,396 246,295 135,114 140,943 463,729 128,611 84,236 96,275 60,930 216,216 2 , 7 5 3 * W 750,809 DISTRIBUTION OF BILLS AND U.S. CERTIFICATES OF INDEBTEDNESS BY MATURIEIBS. Total Over 90 days 6l to 90 days 31 to 60 days 16 to 30 days Within 15 days 2,082,139 10,239 91,8og 143,163 115,589 1,721,280 368,846 76,167 124,124 88,601 79,954 198,134 273,585 14,875 25,7b2 3,000 31,814 213,903 Released for p u b l i c a t i o n Sunday morning, October 26, 1919; not e a r l i e r . St.668d STATEMENT OF FEDERAL RESERVE AGENTS' ACCOUNTS AT CLOSE OF BUSINESS OCTOBER 2 4 , 1Q19. ( I n thousands of d o l l a r s . ) Boston FEDERAL RESERVE NOTES: Received from Comptroller Returned to Comptroller Chargeable to F.R. Agent In hands of F.R. Agent 857,294 216,434 149,193 113,552 275,533 49,080 AMOUNT OF ELIGIBLE PAPER DELIVERED TO F . R . AGENT Total 75,213 43,283 104,180 2.187,243 969,926 256,426 286,667 164,568 195,437 530,i44 168,087 97,425 110,807 88,457 246,440 3,359,917 130,600 10,980 24,495 22,i6o 29,260 24,897 78.,563 240,536 50,515 35,720 96,993 17,510 839,326 234,266 257,407 139,671 144,922 494,424 150,577 48,055 8,690 8b,445 102,117 5,4oo 409,307 63,962 241,040 2,980,610 8,544 4,ooo 4,082 13,052 3,267 1,750 8,831 3,713 14,499 242,248 90,999 37,ooo 45:500 277,105 61,931 20,800 33,360 9,484 85,117 864,686 556,326 159,208 124,667 100,456 94,004 208,775 80,564 49,326 67,007 41,934 141.424 1,^82,677 86,445 102,117 63,962 241,040 2,980,610 13,467 183,740 9,26o 14,669 30,125 12,615 2,215 54,000 90,000 60,389 90,000 E l i g i b l e paper - Minimum r e Total Richm. A t l a n t a Chicago S t , Louis Minn, Kans ,Cy. Dallas San Fran. 163,947 COLLATERAL SECURITY FOR OUTSTANDING NOTES: Gold coin and c e r t i f i c a t e s - Gold Settlement Fund-F.R.Board P h i l a. Clevel. , 439,480 1,827/220 472,860 435,860 278,120 274,000 770,680 265,080 145,480 186,020 131,740 350,620 5,577,160 Issued to F,K* bank l e s s amount r e t u r n e d to F.R.Agent f o r r e demption 226,453 Gold redemption fund New York 2,500 2,918 226,453 839,326 234,266 257,407 139,671 144,922 494,424 150,577 167,172 877,733 163,226 179,177 103,959 1 0 2 , # 6 2 8 - ^ 4 bfaY . 86,868 - . 68,329 102,749 64,368 163,661 2,366,sesr b?zj>
@FedFRASER